It raised $US485 million late last year from a slew of investors, according to an SEC filing. This would bring the company’s total amount raised to more than $US1 billion.

The funding report comes on the heels of another rumour: that Snapchat wants to buy an expensive record label, Big Machine, which could cost an estimated $US350 million. Big Machine represents Snapchat CEO Evan Spiegel’s former fling, Taylor Swift.

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